Judgment and Decision Making Process
Judgment and decision making (JDM) refers to an interdisciplinary area of research that seeks to determine how people make judgments and choices. The field considers perspectives from psychology, sociology, and economics; JDM researchers are found in psychology, management, economics, and marketing...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2010
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/2753 |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | Judgment and decision making (JDM) refers to an interdisciplinary area of research that seeks to determine how people make judgments and choices. The field considers perspectives from psychology, sociology, and economics; JDM researchers are found in psychology, management, economics, and marketing departments, as well as in schools of medicine, engineering, and public health. As this volume is concentrated on industrial/organizational psychology, we adopt a mostly descriptive (i.e., psychological) perspective in discussing this topic. Psychologists have been concerned mostly with how people actually make decisions, whereas researchers from other areas (e.g., economics) have been concerned mostly with the rules that people should follow when making choices. In general, decisions can be categorized depending on whether the outcomes of the available options are known for sure (decisions under certainty) or whether the outcomes are uncertain and occur with known or uncertain probabilities (decisions under uncertainty). |
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